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Worldmark 12000 credits/24000 to transfer for $1500. Is this an ok, good, or great deal?

Discussion in 'Worldmark The Club' started by Uduhman, Jan 13, 2019.

  1. Uduhman

    Uduhman Guest

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    I am hoping to get some quick advice on this deal. I am new to this stuff and want to get a great deal. You know...the ones I keep reading about. It is $83 MFs monthly or $996 annual MFs. There is an ROFR (Right of First Refusal) process by the resort. Closing costs are paid by seller, and there is a $299 resort transfer fee.

    What do you think about this deal?
    How much would you pay for this deal if it was over $1500?
    Anything else you would want to know?
    Any other questions you would ask the seller?
     
  2. samara64

    samara64 TUG Member

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    Is the seller reputable. Broker or a private party.

    Never had to do a ROFR for WM.

    Anniversary month?
    Total cost?
     
  3. easyrider

    easyrider TUG Review Crew: Expert TUG Member

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    If it is an unknown to you person through craigslist you need to be careful. If it is through facebook then you would be able to at least see who you sending the money to, sort of, because facebook doesn't guarantee the people on facebook are who they claim to be.

    Other than that you found a pretty good deal, imo. Never heard of rofr regarding WM.

    Bill
     
  4. geist1223

    geist1223 Guest

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    Worldmark does not have ROFR. The 2019 MF's are $1035.65. You do not need a Title Transfer Company or Escrow. Worldmark is pure Points there is no Deed. You and the seller can do the whole transaction working with Wyndham Transfer Department. The Transfer Fee is $299. The price is very good. How many current Points? How many Points Banked? How many Points to borrow? How many current HKC? How many HKC Banked? How many HKC to borrow? How many GC?
     
  5. breezez

    breezez TUG Member

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    Dealing with people you don’t know is always a risk. While I have bought many off eBay and they have all worked out in the end not everyone is as fortunate.

    If possible I would be willing to pay the extra $200 cost to have someone like LT Transfers do the paperwork, and escrow.

    Two thing give me the red flag with your post. WorldMark doesn’t have ROFR, and you are not buying at a resort. WorldMark is a membership allowing you access to various resorts in their trust.

    The next item that gives me red flag 12000/24000 to transfer. Are you buying an account or is someone rent their 24000 credits for $1500. The way your title is worded makes me think that the person is willing to rent their current 24000 credits out for $1500. That in itself is a good deal. But won’t work if you don’t already have a WM account.

    A stripped WM 12K account (one without any credits in it.) Typically would sell in range of $3000. So price your specifying seems unrealistic.

    It’s easy to get a Timeshare much harder to dispose of. I would recommend you learn more before buying into one. If WorldMark is what you want they have them for sell all the time on eBay and WMOwners. You will also find them in the tug Market Place from time to time.
     
  6. DaveNW

    DaveNW TUG Review Crew: Expert TUG Member

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    I bought WM in 2017 via eBay. 12K credits, fully loaded account, out the door for $1556, way below the average price. Seller paid all fees. One heck of a great deal. So the bargains are out there. But you need to be extremely careful of what exactly you're getting. As mentioned above, some of the things you're naming are red flags. Might be a broker who has no clue what they're selling. You'll definitely need to do your due diligence.

    Good luck!

    Dave
     
    breezez likes this.
  7. Uduhman

    Uduhman Guest

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    Thank you so much for the reply. This is an Ebay sell. It is currently at $1237.00. It is a broker, "Timely Acquisitions". I think you are right...they are going to give the 24000 credits with buying the timeshare. I do not have a WM account, but I do own with Wyndham. There are several days before the auction ends, so I expect the price it to go up. April 1st is Anniversary Date. Thoughts?
     
  8. easyrider

    easyrider TUG Review Crew: Expert TUG Member

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    I looked at it and it seems fine. The only thing that is wrong in the add is this will not trade into Wyndham because all travel-share benefits are gone when this membership is sold resale, afaik. This is no big deal to me. It will still trade very well into RCI , II and SFX.

    Bill
     
  9. Brian_F

    Brian_F Guest

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    I saw this one too. I looked at the other properties the seller has listed and the same language regarding ROFR is used. So I think they are just being lazy and using the same general disclosures for all of their listings. They have a low number of transactions but 100% positive feedback. I am watching this one but I agree it already has 18 bids and it’s 6 days out so chances are it will go up.


    Sent from my iPhone using Tapatalk
     
  10. breezez

    breezez TUG Member

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    Look what all they are requesting you send if you win. Wyndham does require this info but, giving to some un known eBay seller is pretty risky. This seller has a FB rating of 10, however, 3 are from same buyer... So pretty good chance they used another account to boost FB rating. Some of the auctions they have FB for were then relisted.... Bottom line I would avoid this seller. There are several reputable brokers on eBay... Check out WMOwners and they list a few...
     
    easyrider likes this.
  11. Uduhman

    Uduhman Guest

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    Awesome information. Thanks breezez. I have been looking at WMOwners, and there are numerous offers there. How do I spot a great deal. I guess it depends on how many points I need? I think I am going to attempt to sell my one Wyndham (126000 biannual, $1000), and go with WM. Still unsure about it, but learning more and more everyday. I am patient and again, I appreciate so much, everything I have learned on this site (even rescinding my timeshare a month ago).

    I have been told that 12K is a great starting point. Is it better to obtain two 6000 or one 12000?
     
  12. easyrider

    easyrider TUG Review Crew: Expert TUG Member

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    I agree with breezez. I bought mine from the timeshare angels on ebay. This company has been around for years and they can do other things like sell one time use credits, house keeping tokens and account combination.

    I like multiple 6000 point accounts because the mf is lower, not per point but dollar wise. You can rent 12000 credits giving a total of 18000 credits per year per account. You get a housekeeping token and guest certificate for each account. With multiple accounts there is more access to red season bonus time.

    Bill
     
  13. breezez

    breezez TUG Member

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    I think this depends on where you live.

    If you live out west and can take advantage of many of the Inventory Specials, Monday Madness, Bonus Time, and Fax Time 2 small accounts maybe best

    If you live out east or Midwest, I would lean more towards a one account 12K is a good starting point gets you at least 1 week 2bed in most resorts. 1 bedroom a couple stays. You can also book into Interval at 60 days out for 4K credits any size unit 1 week or 45 days out in RCI.

    It’s easy to rent more credits as needed for typically less than MF’s. Around $.07 a credit. A 12K account allows you to rent up to 24K credits more per year. The disadvantage is you only have 1 free HK token a year. Then must pay HK even if exchanging. (2) 6K accounts would get you (2) HK tokens but a extremely high MF per credit cost. $.118 per credit or 37% higher than a 12K account.

    Average price of stripped account no credits is $.25 per credit. Loaded accounts range .32-.37 per credit. At time people in hurry to sell will let go for less. Larger accounts typically sell for better credit value.
     
  14. K2Quick

    K2Quick TUG Member

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    To add a slightly contrary viewpoint, I actually like dealing with the "for sale by owner" situations on ebay. In most cases, the seller is more than happy to let you drive the process which allows you to pick an escrow company of your choosing. I've bought a couple Worldmark contracts directly from the owner on ebay that way at prices well below market prices because most people are reluctant to buy from anything other than established brokers.

    I realize the auction being mentioned isn't the situation I'm talking about, but there are deals to be had which are a lot less risky than they seem on the surface.
     
  15. talkamotta

    talkamotta TUG Review Crew: Expert TUG Member

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    Don't be afraid of listings with "or best offer" .........put in a best offer. I recently won 41,000 annual points for $5,000. No other fees. I also get 2019 mtfs paid by seller and $18k from 2018. So I think I'm buying in for a good price. It's a lot of points and obligations for yearly mtfs it works for me. You have to find what works best for you.

    When or if you look on eBay or other sites read the whole ad. I just looked at one listing on eBay and the heading said 20k and it had $1740 or best offer. So it got my attention. Looking further it was for 6,000 annual points and the buyer paid fees (more than just transfer fees). I'm not sure where the 20k comes from. It's misleading to me but it's a warning to read everything.
     
    Last edited: Feb 14, 2019
  16. DaveNW

    DaveNW TUG Review Crew: Expert TUG Member

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    Note that this thread is a month old.

    Now, tell us exactly how it is you’re getting $18,000 out of this? ;)

    Dave
     
  17. ecwinch

    ecwinch Moderator

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    It would be more accurate to say that when you bought WM did not have a ROFR.

    Because there is ROFR clause in the recent WM Public Offering Statement that Gary posted over on WMOwners - and it is a bit fuzzy on when that occurred.

    But as was pointed out they seem to have never exercised it.
     
  18. geist1223

    geist1223 Guest

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    Does it say who has the right to exercise the ROFR?
     
  19. talkamotta

    talkamotta TUG Review Crew: Expert TUG Member

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    So I questioned the seller on this. He said 6,000 annual for this
    My first intention was to encourage people to make the offer, cant hurt. So I went looking at listings on ebay and I saw the example which as I said caught my attention. I, too, wondered how they came up with 20k. So I asked him. His reply was "Its a 6k year and you can borrow 6k for the upcoming year. No points used last year and a 2k balance initial listing year. 6 k last year, 6k this year, 6k u can borrow from upcoming year, plus the 2k balance...20k." What he says is true but I think the listing heading is very misleading. Take a look at it. I think of it as a warning for any buyer to read the whole listing and do the due diligence. A month ago before I started reading and posting this thread, maybe I would have bid on this listing thinking I was getting a great deal for 20,000 points.
     
    DaveNW likes this.
  20. chuckmiles

    chuckmiles Guest

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    Hi Bill, which one is better, RCI or II? I am debating to join one. TIA
     
  21. easyrider

    easyrider TUG Review Crew: Expert TUG Member

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    I like RCI the best because there is way more inventory to exchange. I like II because they do have some really nice brands of timeshares. I like SFX because they will take a WM blue week for certain WM resorts.

    If the choice is RCI or II , I would keep my RCI. SFX is free so there is no harm having SFX. I have scored a couple of resort escapes with SFX and been able to get a two bed Grand Mayan NV in the winter with a WM blue week.

    Bill
     
  22. geist1223

    geist1223 Guest

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    I have seen EBAY by Owner and the Owner normally has no idea of the value and the starting price is to high. Accounts by Brokers are normally better priced. While there are Accounts for sell on WMOWNERS I normally see 2 things. 1. They are higher cost than on EBAY and the Accounts are normally stripped of all current Points. So you might be waiting for 2 to 10 months for the Account to get current Points. It is true that Wyndham is taking 8 to 10 months to complete the Transfer so this might not be a big deal. It is also true you can borrow from next year but then it seems you are always in the hole.
     

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